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Portuguese Hotel Revenue Rose 4.6 Percent in August, INE Says

Portugal’s hotels recorded a 4.6 percent rise in revenue in August from the same month last year, bolstered by an increase in overnight stays by British, Spanish, French and Brazilian tourists.

Revenue rose to 310.5 million euros ($421 million) in August, the Lisbon-based National Statistics Institute said today in an e-mailed statement. In the first eighth months of the year, revenue increased 4.9 percent to 1.36 billion euros.

Tourism represents about a tenth of Portugal’s gross domestic product, according to the Economy Ministry.

To contact the reporter on this story: Anabela Reis in Lisbon at areis1@bloomberg.net

To contact the editor responsible for this story: Joao Lima at jlima1@bloomberg.net

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